Long Before SwissCash, There Is PIPS!
I have been getting very interesting response from Swiss Cash “Investors” especially from this gentleman, “Mr. Eric Jonathan Lee” which I suspect he is from our network. Therefore, I decide to copy my comment and make this post. And those invested and still doing your best to recruit your downline or thinking to invest, open your mind, read and think for yourself
Before Swiss Cash, there is a scheme called PIPS and PicPay from 2003 to 2005. Similar MLM scheme and promised return, same promise of financial freedom etc In fact, people get paid initially and the recruitment hype was so strong with 80,000 members (some are even in our graduate’s network)! In the end, the whole structure fall because the founder, “Bryan” never invested the money collected and I was told he was arrested for fraud and scam.
I have 2 friends, both get burned in this PIPS & PicPay scheme without mentioning the downlines they recruited. And yes, they got paid from 6 months to 12 months initially! Read below:
http://www.fraudguides.com/pips_investment_scam.asp
http://www.pips-scam.com/
http://www.fraudguides.com/ponzi_schemes.asp
I urge you, Mr. Eric Lee to answer the following:
1. What do Swiss Cash invest in? From their website, it is a load of craps of cut and paste from some financial terms about equity and debts investment etc Any decent fund management house would have a clear guideline on their investment parimeter stated in their prospectus. I see none! Ask for their audited trading and transaction papers as proof of their called “International Monetary Investment”. I bet they can produce none! When I invest in a Mutual Fund, I get a simple printed fund performance report annually telling how my fund performance.
2. Who are the founders? Who is the management team? Who is their key investment strategist? Hey, at least when I invest in SPH shares, I know who is their CEO and board of directors.
3. Call the company and ask to speak to the manager directly and ask for real EIN# issued from an US State and see what you get.
4. Try to google their address:
280 Madison Avenue
912 - 9th Floor
New York, New York
NY 10016
Read more at http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
5. Swiss Cash claims to be able to earn about 300% return over a year if compunded. Now, lets look at Berkshire Hathaway. They have averaged 22% return per year over the last 30 years. This is considered one of the best investment companies in the world. Think about it. It would take an amazing amount of luck, skill, and trading to gain returns that are 15X’s that of BSH.
In a nutshell, this is a Ponzi Scheme and people who make the most money are the top guy and key people who set it in motion. Google it and you will learn more. It is funny people don’t really learn from history because of greed and promised of easy money. Ignorance is not bliss.
Tags: Scam, Swiss Cash
Serene Wong said,
May 17, 2007 @ 4:37 am
I found this website as i was researching about swiss cash as many of my friends are in it and have asked me to joined. It’s the Federal Department for Foreign affairs website. The FDFA formulates and coordinates Swiss foreign policy on the instructions of the Federal Council. A coherent foreign policy is a precondition for the effective protection of Swiss interests vis-à-vis foreign countries.
http://www.eda.admin.ch/eda/en/home/reps/asia/vsgp/ref_bufor/bussgp/sinpub.html
It’s informing people about swiss cash and the misleading publicity of the company.
Money Ngoh said,
May 17, 2007 @ 9:27 am
Ken,
You are very right about your analysis about Swiss Cash and PIPS.
There are so many internet HYIP in the market that promise great return but does not sustain.
It is a loser game. The first few makes money and the other lost everything.
No added values, No integrity and win/lose game.
I urge anyone who intend to start and or get involve, think again.
You gain is based on someone lost.
The money will be flow away from you the moment you have it.
Ken Chee said,
May 17, 2007 @ 1:54 pm
Dear Money Ngoh, thank you for your comment. Yup, any money and you graduate would know that this is a zero sum game. Totally lack of integrity. I suspect that very topline knows that. This is what I call “Shark”.
Alot of layman (Shark bait) will get burnt. I was rolling off the floor when I read their so CFO “2005″ report. Thus I confirmed this is a SCAM because I see the same “show” been fanned in PIPS: Refuse to meet, clarify and show investment trading proof.
Interestingly, these HYIP/ Ponzi investor has the following behavior,
“The Cult like Behavior of HYIP/ Ponzi Scheme
Anyone that dares question the validity of this program had better be ready for what follows. Criticism will be turned around and the person questioning the program will find themselves the subject of criticism. This is class cult behavior and it’s not hard to see why the members would behave this way. Investor is based on faith. Faith that investing in the scheme will bring in financial rewards most people can only dream of. After a while it will become a dream just to get their initial investment back. But until then investors absolutely must believe in the person running the show because once that faith begins to waiver the investor will have to begin to face the fact that they have lost their investment. In light of this it’s easy to see why the community is so eager to pounce upon any doubter. What’s sad is that eventually every investor will be wearing the doubter’s shoes but most will remain silent because they will have seen what happens and this is exactly what the people running the scheme are counting on. Too many questions could bring the entire house of cards down before they can skip town.”
That is why the “CFO” will never be able to produce any trading proof and refuse to meet any press or investor and be transparent. In PIPS scam, the founder, Bryan claim it as a “secret”. Aiyo, just use logic, if this Swiss Mutual Fund is so good in investing, why does it need to spend pay so much interest and commission in attracting small money from layman like you and me? Simply just issue bond or borrow from any major global bank with much lower interest fees. The capital expenditure is VERY MUCH lower. Any savvy CFO would know that. They usually counter it by saying wanting to create more “layman” millionaire. Yeah right, the only the millionaires that the scheme create is the top guy and people who set it in motion. Period.